Waypoint Leasing reached a lease agreement with South Africa-based Titan Helicopter Group for two helicopters. Titan will take delivery of a new AgustaWestland AW139 through Waypoint’s order book. The agreement also covers the purchase and leaseback of a Sikorsky S-76C+. Titan will operate the helicopters for offshore crew change support in South Africa and Namibia.
The agreement is the first between Titan and Waypoint. The Limerick, Ireland-based leasing company was founded in 2013, and within the first two years has acquired and placed on lease more than 100 aircraft. Earlier this year it secured an additional $185 million for its leasing activities.
“We are excited to be part of Titan’s continued expansion,” said Waypoint CEO Ed Washecka, pointing to the operator’s reach into several continents. In addition to South Africa and Namibia, Titan provides support services in Angola, Equatorial Guinea, Libya, Peru, Antarctica, Mozambique, India and the Ivory Coast.